BlockBeats reports that on November 7, according to Stablewatch data, stablecoins experienced the largest outflow of funds since the Luna crash and UST collapse in 2022, totaling $1 billion over the past week. Stream Finance’s xUSD was wiped out after suffering a $93 million loss in fund assets. Coinshift’s csUSDL TVL dropped 95%, leaving only $1.92 million. Additionally, Elixir’s stablecoins deUSD and sdeUSD both faced liquidity crises simultaneously.
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Stablecoins experienced their largest weekly outflow since the Luna crash, totaling $1 billion.
BlockBeats reports that on November 7, according to Stablewatch data, stablecoins experienced the largest outflow of funds since the Luna crash and UST collapse in 2022, totaling $1 billion over the past week. Stream Finance’s xUSD was wiped out after suffering a $93 million loss in fund assets. Coinshift’s csUSDL TVL dropped 95%, leaving only $1.92 million. Additionally, Elixir’s stablecoins deUSD and sdeUSD both faced liquidity crises simultaneously.